An introduction to the principles and legal concepts that apply to the built environment professions and how this law develops and changes. The subject covers:

• the fundamentals of common law;
• liability in tort law for injury or loss caused to other people or their property;
• legally binding contracts, their terms, obligations and breaches. These concepts extend into construction contracts, standard forms of contract, liabilities, litigation and arbitration;
• concepts of property and ownership in Australia. The legal nature of land, improvements, fixtures and chattels, land registration systems and encumbrances. Co-ownership: subdivision, joint tenancy in common. licenses and leases. occupier's liability;
• planning law;
• environmental law;
• intellectual property covering copyright, patents and consultancy issues.

This Masters level subject is designed to introduce the fundamental concepts required for understanding how property markets function and/or operate, as well as the basic valuation techniques required for determining the value of real property.

It serves both the new 300 point Master of Property and the Graduate Diploma of Property Valuation, which are courses taught within the Melbourne School of Design.

This is a foundation subject and is meant for students who are relatively new to the property education. The emphasis of this subject is to introduce students to the main systems and relationships which govern the operation of property markets, with particular reference to the valuation of commercial property in Australia.

The subject examines market analysis and valuation techniques as they apply to real property. The main areas to be covered include:

• To set property within an economic context
• To examine property as a set of linked markets, functionally divided between use, investment and development
• To critically evaluate the role that regulations and planning play in the property markets
• Typical valuation processes focussing on direct comparison, direct capitalization method, discounted cash flow method and residual method.

This subject aims to provide a range of applied skills to operate as a property professional in the area of property valuation and management. The subject examines:

• ownership and use perspectives as they apply to investment, valuation and management of real property as a business;
• property classes, market sectors and specialised properties;
• managing the physical asset in the various ownership and use scenarios, including legal, OHS, risk management, environmental and market demands;
• lease income and management.

The application of quantitative methods in analysis will be emphasised. These will include: discounted cashflow analysis, real estate finance and financial analysis, post taxation analysis and securitisation.

This subject focuses on the nature of accounting from the perspective of the users of financial reports. In this subject, students will learn how to analyse and interpret financial information prepared by diverse businesses, both profit and not-for-profit. A key theme in the subject is to understand the relevance of accounting information for the decisions typically made by diverse stakeholders including financial analysts, bankers and shareholders as well as the strategic and operational decisions made by managers within the different businesses. This subject is designed to meet the needs of students from all disciplines, who seek to become more informed users of accounting information but who do not intend to pursue further studies in accounting.

This subject covers the legal framework within which urban planning takes place, and the ways in which local provisions (e.g. ‘Planning Schemes' in Victoria) can be used to implement plans by regulating development. It focuses on the legal frameworks and measures used in Australia, with particular emphasis on Victoria, but critically compares these with alternative approaches used in other jurisdictions. The intention is to teach students not just how to ‘operate' the current legal and statutory systems, but also how to change them to produce better outcomes. We begin by considering the role of regulation and laws in the process of urban planning, and the objectives that statutory planning seeks to achieve. We consider the possible tensions and conflicts between these objectives, and the different basic approaches that might be adopted in dealing with these tensions. The course then introduces the framework of planning law and governance in Victoria, comparing it with practice elsewhere in Australia and in selected overseas jurisdictions. The Victorian statutory planning process is covered in detail, addressing the making and amending of planning schemes, scheme administration and appeals. Finally, we consider the relationship between these state systems and other regulatory systems, such as Commonwealth environmental legislation, before turning to the question of possible reform of the Victorian and Australian systems.

The subject provides a broad overview of a range of topics relevant to the Australian construction industry, including the regulatory framework, construction materials and technology, construction documentation, geotechnical engineering, building structures, construction management and economics, and building inspections and faults. Building mechanical, electrical, hydraulic, fire, transportation and communication services and controls are also covered. The subject addresses issues in the context of residential, commercial and industrial buildings, and includes site visits.

The intention of this subject is to provide a broad introduction to the industry, with construction systems base, including an introduction to planning and scheduling, soil conditions, cost estimating and project management. The subject is intended for students entering the Master of Property program with no, or at least a very limited, construction background. This subject is not available to any students who have already completed 25 points of construction technology based or equivalent studies.

This subject is designed to equip students with the tools necessary to enable them to make the core decisions faced by managers and investors. The first part of the subject deals with establishing the environment in which organizations operate, namely the objectives of the suppliers of financial and human capital. The subject then considers the basic tools commonly employed by financial managers and investors including discounted cash flow techniques and financial mathematics. Measures and definitions of alternative forms of risk are considered and the relation between risk and expected reward in capital markets is established. Finally, the subject considers the important decisions faced by firms (such as investment, financing and dividend policy) and by investors (the composition of their optimal portfolio of stocks).

This subject provides an introduction to the fundamentals of microeconomics, strategy and key issues in macroeconomics, and applies this knowledge to business and management issues. Topics to be covered include: the working of competitive markets; the operation of business organisations such as cost management and pricing decisions; strategic behaviour and market outcomes in different market environments; the effect of public policy on business organisations; and the main macroeconomic influences on the business environment.

This subject builds on property fundamentals and focuses on research in the real estate market. The subject aims to give you a range of applied skills in advanced property analysis, such as:

• Contemporary consideration in valuation of specialist properties (e.g. rural properties, shopping centres, retirement homes, leisure centres, resorts, easements, etc);
• Advanced financial analysis;
• Composition and functioning of the property lending market;
• Property lenders and lending products;
• The determination (and assessment of major determinants) of lending interest rate;
• Contemporary risk issues;
• Measurement of returns.

This subject aims to give students the knowledge and skills to be able to operate as a property professional in the area of development advice and decision making in property development. It comprises:

• the development process and the major players;
• time value of money;
• the decision to build;
• property market research and analysis;
• appreciation of investment and market valuation methods;
• development appraisal including residual analysis and cash flow modelling;
• price and worth; risk, return and risk analysis.

Valuation for statutory purposes including rating. Examination of all taxes affecting property, including land tax. Compulsory acquisition and compensation.

Overview of the legal system in Australia:

• The concept of property and ownership in Australia
• Comparative land policy
• The general law and the Torrens land registration systems
• The legal nature of land: improvements, fixtures and chattels
• Encumbrances: easements, restrictive covenants, right
• Co-ownership: subdivision, joint tenancy in common
• Licenses and leases
• Contract, tort and agency
• Occupier's liability
• Impact of heritage legislation

As the real estate market becomes increasingly international, it is necessary to understand how specific national markets operate and how they relate to one another within an international system. With globalisation, capital flows with increasing ease between national economies, and many real estate market actors - users, investors, developers and financiers - now search for opportunities across national boundaries. Real estate services, such as agency or research, have become international in order to serve these requirements.

At the global level, the institutional environment of real estate is extremely diverse. There are wide national differences in the economic, political, social and legal contexts within which real estate markets operate. Variations in planning control, landlord and tenant law, methods of valuation, professional education, and the symbolic significance of landed property represent important examples, and there are many others. Real estate market analysis therefore has to translate between different systems, both literally in terms of working language and metaphorically in terms of differences in business practice and culture.

This subject is intended to provide a comprehensive analysis of international real estate markets examining the rationale for their existence and development, its links to economic change, international financial diversification and institutional adaptation. The subject also examines the role of, and changes in, business culture to provide an understanding of the behaviour of real estate markets. The subject allows comparison over time of real estate markets in different countries, showing differences in market characteristics and changes thereof. The entry of international companies and their role in market development is also examined.

This subject is a survey of investment decision-making in the context of property, with a focus on cash flows, return, and value. Property investments are surveyed with emphases on the analysis of commercial real estate and the theory and methods of investment analysis in respect to tax and financial consequences. Financial and non-financial factors influencing the investment feasibility of income-producing property are covered.

Incidental costs

A financial calculator is required, specifically the HP10bii+. The cost is approximately $65.

Topics covered in this subject include:

• The role of corporate property in the strategic management of the organisation;
• Property as a strategic asset;
• Corporate property strategies and their alignment with organisational strategy;
• Models of CRE management;
• Tenure decisions;
• CRE portfolio analysis;
• CRE projects as interventions in CRE portfolios;
• CREM and procurement;
• Measuring corporate property performance;
• Workplaces and CRE;
• National and international locational analysis and competition;
• CRE information and information systems.

Property Research and Analysis is a taught module that draws on theories and techniques to analyse various property-related research questions in an applied way through selected research-based studies demonstrating how these theories and techniques are applied. The specific focus on research in this subject provides the foundation for ABPL90362 Research Thesis – Property.

The subject has two aims:

1. To equip students with the skills necessary to conduct rigorous and original research;
2. To provide them with an opportunity to develop a scholarly foundation and a theoretical framework for an investigation into a research topic determined by the student in conjunction with an academic supervisor. The academic supervisor will guide the student while undertaking ABPL90362 Research Thesis – Property.

The subject concentrates on the preliminary stages of research, from defining a research question through to planning and beginning implementation of the research. The output of students' work constitutes the basis for the empirical work conducted in ABPL90362 Research Thesis - Property and forms an integral part of the final research report of that subject.

Together ABPL90363 Property Research Analysis and ABPL90362 Research Thesis - Property meet the 25-point research pathway to PhD requirement.

The subject will examine the economic, social, legal and political context of land and property by focusing on:
1. Local, national and global economies: the changing spatial dimensions of land and property markets.
2. Social significance: social meanings attached to land and property and their effects on economic behaviour.
3. Regulatory regimes and public involvement: the legal framework for property market activity and its economic implications.
4. Governance and policy processes: the political significance and policy implications of land and property.

Topics covered include:

Commercial property as an investment asset class in Australia; Property joint ventures, partnerships, trusts, funds and companies; Listed and unlisted REITs; Valuation and pricing of listed and unlisted property securities; Equity and debt financing; Taxation of property investment vehicles, including stapled entities; Property funds management; Recent trends in property investment products.

The subject provides students with an opportunity to produce an ordered, critical exposition of autonomously gained knowledge, thus demonstrating proper understanding of the nature, development strategies and conventions of research work, with particular focus in their area of specialisation.

The subject concentrates on the middle to final stages of research: from implementation of a research plan, to effectively interpreting and presenting results of the research plan implemented. Seminar group and one-on-one meetings are held with the supervisor/coordinator, to allow students to exchange and/or obtain advice on their topics.

Knowledge and materials prepared in the ABPL90363 Property Research and Analysis are to inform the final research report.

Students enrolled in this subject will partner with a host organization to complete an industry-based research project. Firms may be based in the commercial property development, investment, valuation, management and consultancy fields. Students will be supervised by the Subject Coordinator in collaboration with a designated party at the host organisation. Students will work on a research topic chosen by the host organization and will spend no more than 12 days working at the host organization over the course of the subject. Work will be limited to that needed to complete the research project. The Industry-Based Research Project will enable students to extend and apply the knowledge acquired through the Master of Property coursework subjects, will provide students with a valuable professional experience, and will extend their professional networks. This project can be taken to fulfil the research requirement of the Master’s in Property and may replace ABPL90362 Research Thesis – Property

Topics covered include:

• advanced life cycle based property asset management;
• economic modelling;
• asset management optimisation;
• functional and economic performance;
• standards;
• obsolescence;
• condition assessment;
• maintenance and refurbishment implications;
• market and income issues;
• property finance, accounting and taxation issues;
• risk analysis;
• public and private sector guidelines.

This subject provides a critical review of the theory of project management in construction by showing and reflecting on how the established set of project management competencies applies to all phases of building projects’ life cycle. Through project simulations and structured discussion, students are made aware of the relationship between quantitative data and qualitative decisions in a framework of relative uncertainty, and how this relationship is likely to change depending on project type, technological context and building coalitions. By covering new developments, trends and technologies in project management, the subject exposes students to possible transformations in the discipline. At the end of the subject, students are required to go through a self-assessment process that helps them identify knowledge gaps and own development paths as well as the importance of peer interaction and reflective learning in team environments.

The subject examines a number of topics relevant to the long-term ownership and use of buildings where sustainability is important. These topics include:

• Issues in property asset life cycles;
• Facility economics, including economic decision-making and life cycle costing;
• Triple-bottom line decision-making about property assets;
• Projects and interventions in properties’ life cycles;
• Property asset maintenance management;
• Depreciation and obsolescence of property assets; and
• Sustainability, value and investment decisions.

A series of case studies conducted in different countries or cities over four intensive weeks. Case studies are to be carried out in groups. They will cover a range of property, construction and infrastructure topics including project inception, project finance, project valuation and appraisal, urban planning policies and permits, project procurement and delivery, construction planning and management, construction technology and services, construction methods and equipment, construction and leasing contracts, and associated legal matters.

Candidates are required to arrange and pay for their own travel, accommodation and incidentals. The travel cost and accommodation is around AUD 5500 (AUD 2500 for travel and AUD 3000 for accommodation, food and local travel). One preferred/ recommended budget accommodation option in each of the cities will be provided.

Note: This subject includes a pre-teaching period. During the pre-teaching period students are expected to complete the course readings, review the lectures and any other course preparation as outlined on the LMS. The LMS will become available at the commencement of the pre-teaching dates.

A series of case studies conducted in different countries or different c cities, over two intensive weeks (either the Japan/ Hong Kong stretch or the China stretch). Case studies are to be carried out in groups. They will cover a range of property, construction and infrastructure topics including project inception, project finance, project valuation and appraisal, urban planning policies and permits, project procurement and delivery, construction planning and management, construction technology and services, construction methods and equipment, construction and leasing contracts, and associated legal matters.

Candidates are required to arrange and pay for their own travel, accommodation and incidentals. The travel cost would be about AUD 3000 (AUD 1500 for travel and AUD 1500 for accommodation, food and local travel - for either of the countries). One preferred / recommended budget accommodation option in each of the cities will be provided.

Note: This subject includes a pre-teaching period. During the pre-teaching period students are expected to complete the course readings, review the lectures and any other course preparation as outlined on the LMS. The LMS will become available at the commencement of the pre-teaching dates.

The focus of this subject lies in the integration of services and energy efficient strategies into the fabric of the building and its construction process. After introductory material on environmental quality and energy related issues, the subject provides students with knowledge in the field of electrical, mechanical, air handling, hydraulic and communication services and particularly the construction issues they generate: levels of documentation and decision-making required; connections with process planning; spatial requirements for functioning, installation and access purposes; protection and quality assurance; building tolerances; systems integration; layout strategies; work sequences and temporary works; contract coordination; testing; maintenance; and upgrading-replacement.

This subject covers the legal framework within which urban planning takes place, and the ways in which local provisions (e.g. ‘Planning Schemes' in Victoria) can be used to implement plans by regulating development. It focuses on the legal frameworks and measures used in Australia, with particular emphasis on Victoria, but critically compares these with alternative approaches used in other jurisdictions. The intention is to teach students not just how to ‘operate' the current legal and statutory systems, but also how to change them to produce better outcomes. We begin by considering the role of regulation and laws in the process of urban planning, and the objectives that statutory planning seeks to achieve. We consider the possible tensions and conflicts between these objectives, and the different basic approaches that might be adopted in dealing with these tensions. The course then introduces the framework of planning law and governance in Victoria, comparing it with practice elsewhere in Australia and in selected overseas jurisdictions. The Victorian statutory planning process is covered in detail, addressing the making and amending of planning schemes, scheme administration and appeals. Finally, we consider the relationship between these state systems and other regulatory systems, such as Commonwealth environmental legislation, before turning to the question of possible reform of the Victorian and Australian systems.

This subject explores planning and policy making for productive and competitive urban settlements by investigating the economic drivers, activities, and interrelationships of cities and regions. You will examine how making and moving of goods, services, and jobs shapes the vitality, structure and governance of cities and regions. Complex planning issues, requiring judgements about the competing demands of economic development and social needs, are associated with the growth and decline of sectors and places in their particular urban contexts. Various economic perspectives and examples are used to show and interpret how urban activities and sectors – such as manufacturing, transport, services, recreation, and creative activities – have locational and network impacts within and between cities. Special attention will be paid to comparative analysis and innovation in developing cities and regions, and to the implications of market failures and inequalities produced by economic development activities.

The subject concerns housing issues.The provision of housing is presented as a complex system of interplay between construction, finance, real estate and bureaucracy (and others). It considers the challenge of providing good homes to all all within the context of consistent under-supply over decades and a policy preference for private sector delivery.

This subject has four components

1. The structure of housing provision. The roles and interplay between parts of the housing system including how markets work; the roles of developers, financiers, consumers and government; how the housing market works; supply, demand, role of property developers and the role of banks (including the growth of financialisation).
2. The contribution of housing form and planning for housing to the workings of cities.
3. The implications of market failure for certain population groups.
4. Low-income housing policy (e.g. social housing).

This subject aims to give students an understanding of the processes and issues relating to the transfer of freehold and leasehold interests in property with a commercial agency focus within the current legal and market context. The subject will be presented under three main themes:

1. real estate agency structures - legislation and agency practice, licensing, codes of ethics, consumer protection;
2. the management of an agency practice including trust accounts;
3. marketing and markets.

Urban Informatics is the study of cities using digital data, information, knowledge and models to understand trends, complexities and inform the formulation and evaluation of sustainable urban futures.

This subject aims to arm the student with the necessary fundamental concepts and practical understanding of the rise of the Smart City and how urban informatics can assist in evidenced-based and collaborative decision-making.

The new science of cities (Batty, 2013) is driven by the deluge of data that enables the mapping of the Smart City and new geographies that can be explored, analysed and synthesized. Planners, geographers, urban designers, landscape architects, spatial scientists and other disciplines interest in the urban settlements require a deeper knowledge of digital data and how to access, interrogate, visualize and synthesis such data to realise the vision of the smart and sustainable city.

This subject utilises the Australian Urban Research Infrastructure Network (AURIN) portal as an e-learning resource for exploring what is possible in emerging in the new discipline of urban informatics. Students will also be exposed to a range of other complementary digital environments including open data repositories, urban modelling and visualisation tools and open source geospatial information technologies.

Demographic ageing is creating a shift in how to think and define homes, cities and public spaces. This subject explores feasible and sustainable approaches to keep the older segment of the population physically and socially active. Innovative changes in design can lead to significant advancements in service delivery, transportation models and homes that allow people to age in place. In addition, design principles for dementia and palliative care are a few of the many concepts that help minimise stress on people as they age and their families. Students will explore these topics and develop their own ideas about the way design can optimise the ageing process for comfort, security and overall well-being.

Property is the choice of investors amongst many avenues of asset classes and constitutes a significant share of the global wealth. The economic performance of most developed countries is influenced by the performance of their real estate markets. The property investment has witnessed numerous cycles of growth and recession, and is now considered as a mature and sophisticated market. In order to attract even wider participation, and to meet the appetite of diverse range of investors, newer instruments (in particular) real estate derivatives, are being developed across the globe. While financial and commodity derivative products are being used widely, financial engineering in property is relatively recent. These products have the potential to offer better returns and diversification, while prone to significant risks as the potential to destabilize the operating environment is large. It would be imperative to have better risk management capacity to configure and utilize these instruments.

The aim of this subject is to expose you to the linkage between structured finance and property markets, and the functioning of financial engineering products prevalent in Property domain, in particular real estate derivates, and to equip you with knowledge, skills required to understand, analyse and value different derivative instruments

This subject is designed to capitalise on the multi-disciplinary nature of participants. As such, it uses active discussions, interactive problem solving, peer review and group work, among other teaching and learning activities. In addition, the major assessment task is designed to allow for a significant amount of flexibility as you will be able to determine the focus of your own assignment. You will also be able to vote to determine subject content towards the end of the semester.

Representing Spatial Information is the study of conveying insight gained through geospatial data and information. Upon completion, students will be able to communicate complex relations and insights through visual storytelling and concise graphics.

This subject will introduce students to fundamental concepts in spatial information and provide a practical understanding of the rise of the Smart City and how spatial information can assist in evidenced-based and collaborative decision-making.

Students will also be exposed to a range of digital environments, including open data repositories, urban modelling and visualisation tools and open source geospatial information technologies.

Spatial Analytics is the study of geospatial digital data, information, knowledge and models to understand trends, complexities and inform decision process. The subject explores approaches at the intersection of spatial information, statistics and spatial analytics to further students’ understanding of the built environment.

The new science of cities is driven by the deluge of data that enables the mapping of new geographies that can be explored, analysed and synthesized. Studies of urban settlements require a deeper knowledge of digital data and how to access, interrogate and synthesis such data.

A range of research methods will be taught in combination with case studies to provide fundamental skills in Python, spatial analysis and sharpen critical spatial and analytical thinking. At the end you will have a set of Jupyter Notebooks in Python that can be deployed in future cases such as health, urban planning and real estate for evidence-based decision making.

Realising The Knowledge Economy develops a holistic approach to the understanding and realisation of the urban knowledge economy, i.e., an urban development strategy that draws upon knowledge-intensive sectors and activities. In particular, the implications and impacts of this strategy in property development and management, the planning of housing and infrastructure, and the attraction of human capital and the (re)construction of our built environment will be critically discussed. The subject will cover the various theoretical bases for the centrality of knowledge to the performance of urban economies, these knowledge will be used to analyse different models of planning, development and management of key knowledge spaces. It will also cover how property, the labour market and our built environment react to a knowledge-based development strategy worldwide.

Adopting a student-led learning approach, this subject is designed to capitalise on the multi-disciplinary nature of the student cohort. It uses case studies, active discussions, interactive problem solving, scenario analysis, peer review and group work, among other teaching and learning activities.An essential part of this subject is a group fieldwork around Melbourne to collect data on selected innovation districts and precincts, which requires innovative applications of your learning

Incidental Cost

This subject involves site visit( field work). Students are required to pay for their own travel.

This subject further develops fundamental knowledge of real estate assets and markets, and applies learnings in context of technical modelling and evaluation of real estate assets, for redevelopment, valuation and asset repositioning. Topics covered include: advanced development feasibility; advanced asset valuation and advanced asset repositioning considerations. These topic areas are supplemented by development of advanced technical modelling skills utilizing proprietary software, providing students with the potential for external accreditation in commonly used industry software. Students are required to apply this knowledge and skills to a real-life case project and develop a range of potential solutions for optimization of the asset.

The subject has four aims:

1. Provide students with an advanced understanding of complex real estate challenges and identifying opportunities for repositioning or re-development of the asset;
2. Provide students with the ability to critically analyse real estate asset health using qualitative and quantitative frameworks and formulate a strategic plan and model these from a financial perspective;
3. To equip students with specialist expertise in technical skills to undertake advanced development feasibility, advanced property valuation and life-cycle analysis utilizing industry proprietary software;
4. Develop students capacity to critically analyse, design, create and propose new well-researched and financially modelled strategies for real estate assets.

This subject builds on property fundamentals and focuses on research in the real estate market. The subject aims to give you a range of applied skills in advanced property analysis, such as:

• Contemporary consideration in valuation of specialist properties (e.g. rural properties, shopping centres, retirement homes, leisure centres, resorts, easements, etc);
• Advanced financial analysis;
• Composition and functioning of the property lending market;
• Property lenders and lending products;
• The determination (and assessment of major determinants) of lending interest rate;
• Contemporary risk issues;
• Measurement of returns.

This subject aims to give students the knowledge and skills to be able to operate as a property professional in the area of development advice and decision making in property development. It comprises:

• the development process and the major players;
• time value of money;
• the decision to build;
• property market research and analysis;
• appreciation of investment and market valuation methods;
• development appraisal including residual analysis and cash flow modelling;
• price and worth; risk, return and risk analysis.

Valuation for statutory purposes including rating. Examination of all taxes affecting property, including land tax. Compulsory acquisition and compensation.

Overview of the legal system in Australia:

• The concept of property and ownership in Australia
• Comparative land policy
• The general law and the Torrens land registration systems
• The legal nature of land: improvements, fixtures and chattels
• Encumbrances: easements, restrictive covenants, right
• Co-ownership: subdivision, joint tenancy in common
• Licenses and leases
• Contract, tort and agency
• Occupier's liability
• Impact of heritage legislation

As the real estate market becomes increasingly international, it is necessary to understand how specific national markets operate and how they relate to one another within an international system. With globalisation, capital flows with increasing ease between national economies, and many real estate market actors - users, investors, developers and financiers - now search for opportunities across national boundaries. Real estate services, such as agency or research, have become international in order to serve these requirements.

At the global level, the institutional environment of real estate is extremely diverse. There are wide national differences in the economic, political, social and legal contexts within which real estate markets operate. Variations in planning control, landlord and tenant law, methods of valuation, professional education, and the symbolic significance of landed property represent important examples, and there are many others. Real estate market analysis therefore has to translate between different systems, both literally in terms of working language and metaphorically in terms of differences in business practice and culture.

This subject is intended to provide a comprehensive analysis of international real estate markets examining the rationale for their existence and development, its links to economic change, international financial diversification and institutional adaptation. The subject also examines the role of, and changes in, business culture to provide an understanding of the behaviour of real estate markets. The subject allows comparison over time of real estate markets in different countries, showing differences in market characteristics and changes thereof. The entry of international companies and their role in market development is also examined.

Topics covered in this subject include:

• The role of corporate property in the strategic management of the organisation;
• Property as a strategic asset;
• Corporate property strategies and their alignment with organisational strategy;
• Models of CRE management;
• Tenure decisions;
• CRE portfolio analysis;
• CRE projects as interventions in CRE portfolios;
• CREM and procurement;
• Measuring corporate property performance;
• Workplaces and CRE;
• National and international locational analysis and competition;
• CRE information and information systems.

This subject is a survey of investment decision-making in the context of property, with a focus on cash flows, return, and value. Property investments are surveyed with emphases on the analysis of commercial real estate and the theory and methods of investment analysis in respect to tax and financial consequences. Financial and non-financial factors influencing the investment feasibility of income-producing property are covered.

Incidental costs

A financial calculator is required, specifically the HP10bii+. The cost is approximately $65.

Property Research and Analysis is a taught module that draws on theories and techniques to analyse various property-related research questions in an applied way through selected research-based studies demonstrating how these theories and techniques are applied. The specific focus on research in this subject provides the foundation for ABPL90362 Research Thesis – Property.

The subject has two aims:

1. To equip students with the skills necessary to conduct rigorous and original research;
2. To provide them with an opportunity to develop a scholarly foundation and a theoretical framework for an investigation into a research topic determined by the student in conjunction with an academic supervisor. The academic supervisor will guide the student while undertaking ABPL90362 Research Thesis – Property.

The subject concentrates on the preliminary stages of research, from defining a research question through to planning and beginning implementation of the research. The output of students' work constitutes the basis for the empirical work conducted in ABPL90362 Research Thesis - Property and forms an integral part of the final research report of that subject.

Together ABPL90363 Property Research Analysis and ABPL90362 Research Thesis - Property meet the 25-point research pathway to PhD requirement.

The subject will examine the economic, social, legal and political context of land and property by focusing on:
1. Local, national and global economies: the changing spatial dimensions of land and property markets.
2. Social significance: social meanings attached to land and property and their effects on economic behaviour.
3. Regulatory regimes and public involvement: the legal framework for property market activity and its economic implications.
4. Governance and policy processes: the political significance and policy implications of land and property.

Topics covered include:

Commercial property as an investment asset class in Australia; Property joint ventures, partnerships, trusts, funds and companies; Listed and unlisted REITs; Valuation and pricing of listed and unlisted property securities; Equity and debt financing; Taxation of property investment vehicles, including stapled entities; Property funds management; Recent trends in property investment products.

The subject provides students with an opportunity to produce an ordered, critical exposition of autonomously gained knowledge, thus demonstrating proper understanding of the nature, development strategies and conventions of research work, with particular focus in their area of specialisation.

The subject concentrates on the middle to final stages of research: from implementation of a research plan, to effectively interpreting and presenting results of the research plan implemented. Seminar group and one-on-one meetings are held with the supervisor/coordinator, to allow students to exchange and/or obtain advice on their topics.

Knowledge and materials prepared in the ABPL90363 Property Research and Analysis are to inform the final research report.

Students enrolled in this subject will partner with a host organization to complete an industry-based research project. Firms may be based in the commercial property development, investment, valuation, management and consultancy fields. Students will be supervised by the Subject Coordinator in collaboration with a designated party at the host organisation. Students will work on a research topic chosen by the host organization and will spend no more than 12 days working at the host organization over the course of the subject. Work will be limited to that needed to complete the research project. The Industry-Based Research Project will enable students to extend and apply the knowledge acquired through the Master of Property coursework subjects, will provide students with a valuable professional experience, and will extend their professional networks. This project can be taken to fulfil the research requirement of the Master’s in Property and may replace ABPL90362 Research Thesis – Property

Topics covered include:

• advanced life cycle based property asset management;
• economic modelling;
• asset management optimisation;
• functional and economic performance;
• standards;
• obsolescence;
• condition assessment;
• maintenance and refurbishment implications;
• market and income issues;
• property finance, accounting and taxation issues;
• risk analysis;
• public and private sector guidelines.

This subject provides a critical review of the theory of project management in construction by showing and reflecting on how the established set of project management competencies applies to all phases of building projects’ life cycle. Through project simulations and structured discussion, students are made aware of the relationship between quantitative data and qualitative decisions in a framework of relative uncertainty, and how this relationship is likely to change depending on project type, technological context and building coalitions. By covering new developments, trends and technologies in project management, the subject exposes students to possible transformations in the discipline. At the end of the subject, students are required to go through a self-assessment process that helps them identify knowledge gaps and own development paths as well as the importance of peer interaction and reflective learning in team environments.

A series of case studies conducted in different countries or cities over four intensive weeks. Case studies are to be carried out in groups. They will cover a range of property, construction and infrastructure topics including project inception, project finance, project valuation and appraisal, urban planning policies and permits, project procurement and delivery, construction planning and management, construction technology and services, construction methods and equipment, construction and leasing contracts, and associated legal matters.

Candidates are required to arrange and pay for their own travel, accommodation and incidentals. The travel cost and accommodation is around AUD 5500 (AUD 2500 for travel and AUD 3000 for accommodation, food and local travel). One preferred/ recommended budget accommodation option in each of the cities will be provided.

Note: This subject includes a pre-teaching period. During the pre-teaching period students are expected to complete the course readings, review the lectures and any other course preparation as outlined on the LMS. The LMS will become available at the commencement of the pre-teaching dates.

A series of case studies conducted in different countries or different c cities, over two intensive weeks (either the Japan/ Hong Kong stretch or the China stretch). Case studies are to be carried out in groups. They will cover a range of property, construction and infrastructure topics including project inception, project finance, project valuation and appraisal, urban planning policies and permits, project procurement and delivery, construction planning and management, construction technology and services, construction methods and equipment, construction and leasing contracts, and associated legal matters.

Candidates are required to arrange and pay for their own travel, accommodation and incidentals. The travel cost would be about AUD 3000 (AUD 1500 for travel and AUD 1500 for accommodation, food and local travel - for either of the countries). One preferred / recommended budget accommodation option in each of the cities will be provided.

Note: This subject includes a pre-teaching period. During the pre-teaching period students are expected to complete the course readings, review the lectures and any other course preparation as outlined on the LMS. The LMS will become available at the commencement of the pre-teaching dates.

The subject concerns housing issues.The provision of housing is presented as a complex system of interplay between construction, finance, real estate and bureaucracy (and others). It considers the challenge of providing good homes to all all within the context of consistent under-supply over decades and a policy preference for private sector delivery.

This subject has four components

1. The structure of housing provision. The roles and interplay between parts of the housing system including how markets work; the roles of developers, financiers, consumers and government; how the housing market works; supply, demand, role of property developers and the role of banks (including the growth of financialisation).
2. The contribution of housing form and planning for housing to the workings of cities.
3. The implications of market failure for certain population groups.
4. Low-income housing policy (e.g. social housing).

This subject covers the legal framework within which urban planning takes place, and the ways in which local provisions (e.g. ‘Planning Schemes' in Victoria) can be used to implement plans by regulating development. It focuses on the legal frameworks and measures used in Australia, with particular emphasis on Victoria, but critically compares these with alternative approaches used in other jurisdictions. The intention is to teach students not just how to ‘operate' the current legal and statutory systems, but also how to change them to produce better outcomes. We begin by considering the role of regulation and laws in the process of urban planning, and the objectives that statutory planning seeks to achieve. We consider the possible tensions and conflicts between these objectives, and the different basic approaches that might be adopted in dealing with these tensions. The course then introduces the framework of planning law and governance in Victoria, comparing it with practice elsewhere in Australia and in selected overseas jurisdictions. The Victorian statutory planning process is covered in detail, addressing the making and amending of planning schemes, scheme administration and appeals. Finally, we consider the relationship between these state systems and other regulatory systems, such as Commonwealth environmental legislation, before turning to the question of possible reform of the Victorian and Australian systems.

The subject examines a number of topics relevant to the long-term ownership and use of buildings where sustainability is important. These topics include:

• Issues in property asset life cycles;
• Facility economics, including economic decision-making and life cycle costing;
• Triple-bottom line decision-making about property assets;
• Projects and interventions in properties’ life cycles;
• Property asset maintenance management;
• Depreciation and obsolescence of property assets; and
• Sustainability, value and investment decisions.

The focus of this subject lies in the integration of services and energy efficient strategies into the fabric of the building and its construction process. After introductory material on environmental quality and energy related issues, the subject provides students with knowledge in the field of electrical, mechanical, air handling, hydraulic and communication services and particularly the construction issues they generate: levels of documentation and decision-making required; connections with process planning; spatial requirements for functioning, installation and access purposes; protection and quality assurance; building tolerances; systems integration; layout strategies; work sequences and temporary works; contract coordination; testing; maintenance; and upgrading-replacement.

This subject aims to give students an understanding of the processes and issues relating to the transfer of freehold and leasehold interests in property with a commercial agency focus within the current legal and market context. The subject will be presented under three main themes:

1. real estate agency structures - legislation and agency practice, licensing, codes of ethics, consumer protection;
2. the management of an agency practice including trust accounts;
3. marketing and markets.

This subject explores planning and policy making for productive and competitive urban settlements by investigating the economic drivers, activities, and interrelationships of cities and regions. You will examine how making and moving of goods, services, and jobs shapes the vitality, structure and governance of cities and regions. Complex planning issues, requiring judgements about the competing demands of economic development and social needs, are associated with the growth and decline of sectors and places in their particular urban contexts. Various economic perspectives and examples are used to show and interpret how urban activities and sectors – such as manufacturing, transport, services, recreation, and creative activities – have locational and network impacts within and between cities. Special attention will be paid to comparative analysis and innovation in developing cities and regions, and to the implications of market failures and inequalities produced by economic development activities.

Urban Informatics is the study of cities using digital data, information, knowledge and models to understand trends, complexities and inform the formulation and evaluation of sustainable urban futures.

This subject aims to arm the student with the necessary fundamental concepts and practical understanding of the rise of the Smart City and how urban informatics can assist in evidenced-based and collaborative decision-making.

The new science of cities (Batty, 2013) is driven by the deluge of data that enables the mapping of the Smart City and new geographies that can be explored, analysed and synthesized. Planners, geographers, urban designers, landscape architects, spatial scientists and other disciplines interest in the urban settlements require a deeper knowledge of digital data and how to access, interrogate, visualize and synthesis such data to realise the vision of the smart and sustainable city.

This subject utilises the Australian Urban Research Infrastructure Network (AURIN) portal as an e-learning resource for exploring what is possible in emerging in the new discipline of urban informatics. Students will also be exposed to a range of other complementary digital environments including open data repositories, urban modelling and visualisation tools and open source geospatial information technologies.

Demographic ageing is creating a shift in how to think and define homes, cities and public spaces. This subject explores feasible and sustainable approaches to keep the older segment of the population physically and socially active. Innovative changes in design can lead to significant advancements in service delivery, transportation models and homes that allow people to age in place. In addition, design principles for dementia and palliative care are a few of the many concepts that help minimise stress on people as they age and their families. Students will explore these topics and develop their own ideas about the way design can optimise the ageing process for comfort, security and overall well-being.

Property is the choice of investors amongst many avenues of asset classes and constitutes a significant share of the global wealth. The economic performance of most developed countries is influenced by the performance of their real estate markets. The property investment has witnessed numerous cycles of growth and recession, and is now considered as a mature and sophisticated market. In order to attract even wider participation, and to meet the appetite of diverse range of investors, newer instruments (in particular) real estate derivatives, are being developed across the globe. While financial and commodity derivative products are being used widely, financial engineering in property is relatively recent. These products have the potential to offer better returns and diversification, while prone to significant risks as the potential to destabilize the operating environment is large. It would be imperative to have better risk management capacity to configure and utilize these instruments.

The aim of this subject is to expose you to the linkage between structured finance and property markets, and the functioning of financial engineering products prevalent in Property domain, in particular real estate derivates, and to equip you with knowledge, skills required to understand, analyse and value different derivative instruments

This subject is designed to capitalise on the multi-disciplinary nature of participants. As such, it uses active discussions, interactive problem solving, peer review and group work, among other teaching and learning activities. In addition, the major assessment task is designed to allow for a significant amount of flexibility as you will be able to determine the focus of your own assignment. You will also be able to vote to determine subject content towards the end of the semester.

Representing Spatial Information is the study of conveying insight gained through geospatial data and information. Upon completion, students will be able to communicate complex relations and insights through visual storytelling and concise graphics.

This subject will introduce students to fundamental concepts in spatial information and provide a practical understanding of the rise of the Smart City and how spatial information can assist in evidenced-based and collaborative decision-making.

Students will also be exposed to a range of digital environments, including open data repositories, urban modelling and visualisation tools and open source geospatial information technologies.

Spatial Analytics is the study of geospatial digital data, information, knowledge and models to understand trends, complexities and inform decision process. The subject explores approaches at the intersection of spatial information, statistics and spatial analytics to further students’ understanding of the built environment.

The new science of cities is driven by the deluge of data that enables the mapping of new geographies that can be explored, analysed and synthesized. Studies of urban settlements require a deeper knowledge of digital data and how to access, interrogate and synthesis such data.

A range of research methods will be taught in combination with case studies to provide fundamental skills in Python, spatial analysis and sharpen critical spatial and analytical thinking. At the end you will have a set of Jupyter Notebooks in Python that can be deployed in future cases such as health, urban planning and real estate for evidence-based decision making.

Realising The Knowledge Economy develops a holistic approach to the understanding and realisation of the urban knowledge economy, i.e., an urban development strategy that draws upon knowledge-intensive sectors and activities. In particular, the implications and impacts of this strategy in property development and management, the planning of housing and infrastructure, and the attraction of human capital and the (re)construction of our built environment will be critically discussed. The subject will cover the various theoretical bases for the centrality of knowledge to the performance of urban economies, these knowledge will be used to analyse different models of planning, development and management of key knowledge spaces. It will also cover how property, the labour market and our built environment react to a knowledge-based development strategy worldwide.

Adopting a student-led learning approach, this subject is designed to capitalise on the multi-disciplinary nature of the student cohort. It uses case studies, active discussions, interactive problem solving, scenario analysis, peer review and group work, among other teaching and learning activities.An essential part of this subject is a group fieldwork around Melbourne to collect data on selected innovation districts and precincts, which requires innovative applications of your learning

Incidental Cost

This subject involves site visit( field work). Students are required to pay for their own travel.

This subject further develops fundamental knowledge of real estate assets and markets, and applies learnings in context of technical modelling and evaluation of real estate assets, for redevelopment, valuation and asset repositioning. Topics covered include: advanced development feasibility; advanced asset valuation and advanced asset repositioning considerations. These topic areas are supplemented by development of advanced technical modelling skills utilizing proprietary software, providing students with the potential for external accreditation in commonly used industry software. Students are required to apply this knowledge and skills to a real-life case project and develop a range of potential solutions for optimization of the asset.

The subject has four aims:

1. Provide students with an advanced understanding of complex real estate challenges and identifying opportunities for repositioning or re-development of the asset;
2. Provide students with the ability to critically analyse real estate asset health using qualitative and quantitative frameworks and formulate a strategic plan and model these from a financial perspective;
3. To equip students with specialist expertise in technical skills to undertake advanced development feasibility, advanced property valuation and life-cycle analysis utilizing industry proprietary software;
4. Develop students capacity to critically analyse, design, create and propose new well-researched and financially modelled strategies for real estate assets.